Atlantic Canada Edition the Asia Factor in Atlantic Canada Table of Contents
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Atlantic Canada Edition The Asia Factor in Atlantic Canada Table of Contents The Asia Factor in Atlantic Canada’s objective is to assist the region in better responding to Asia’s rising global economic importance by CONTENTS providing critical information on the opportunities and challenges Asia Matters for Atlantic Canada ......................................................................4 for Atlantic Canadian business and trade with Asia. Atlantic Canada - Merchandise Exports to Asia ...........................................6 New Brunswick - Merchandise Exports to Asia ............................................8 The project represents the Atlantic side of The Asia Factor, a Nova Scotia - Merchandise Exports to Asia ...................................................9 nationwide project launched by the Asia Pacific Foundation of Prince Edward Island - Merchandise Exports to Asia ............................... 10 Canada. The Asia Factor is a multi-year initiative that examines Newfoundland and Labrador - Merchandise Exports to Asia ................... 11 Atlantic Canada - Merchandise Imports from Asia .................................... 12 the interaction of each province and territory with Asia, providing Asian Tourists in Atlantic Canada .................................................................... 14 a comprehensive resource of information and analysis on Canada- Asian Immigration to Atlantic Canada ........................................................... 16 Asia relations at the provincial level. Asian Languages Spoken in Atlantic Canada .............................................. 18 Asian Foreign Students in Atlantic Canada .................................................20 For additional statistics and information on Atlantic Canada-Asia Staff and Our Partner ....................................................................................... 22 relations, visit www.TheAsiaFactor.ca 2 3 Asia Pacific Foundation of Canada/ Fondation Asie Pacifique du Canada Asia Matters for Atlantic Canada of the world’s of the world’s GDP growth for Asia population resides GDP is currently is forecast for 2015 60% in Asia 37% produced in Asia 5.5% Asia is well on its way to becoming the main engine of global growth. Asia’s share of global GDP is already higher than Europe’s or North America’s and is projected to reach 40% by 2018. Share of World GDP 1 Global Imports As Asia grows, per capita income and living standards will rise 40% 40% significantly, giving rise to an expanding middle class. The World Bank 30% 30% expects that economic growth in China, India, Indonesia, Vietnam and other Asian countries will result in Asia’s share of the world’s middle 20% 20% class jumping from 28% to 66% by 2030, while in North America and 10% 10% Europe it will shrink from 54% to 21%. 0% 0% This global shift is particularly important for the Atlantic Canada region as most of its history has been shaped by its connections to the United States and Europe. On the economic front, for example, just 1980 1990 2000 2010 2020 2004 2006 2008 2010 2012 before the 2008 financial crisis, the Atlantic Canada region exported less than 5% of its products to Asia. The region’s exports to Asia Asia Africa & The Middle East North America Western Europe Eastern Europe Latin America more than doubled between 2007 and 2009 to reach $2.2 billion, while exports to the U.S. and Europe both declined by close to 25%. The region has taken advantage of Asia’s growth but it still remains heavily focused on the U.S. market. Global Middle Class Asia is rapidly becoming the biggest market in the world, and there are remarkable opportunities for Atlantic Canadian companies in virtually every industry. For example, Atlantic Canada exports of fish 8% 18% 7% 7% and crustaceans to China have increased by more than 4,500% since 14% 2000 and there is still room for growth. In 2013, China consumed one- 28% quarter of the world’s seafood - as per capita income and consumption 6% increases, China’s appetite for quality seafood products is expected to 2009 2030 grow accordingly. 66% More than ever before, Asia matters for Atlantic Canada. 10% 36% Asia Africa & The Middle East North America Europe Latin America 4 5 Source: Brookings Institution, The World Bank, International Money Fund Note 1: Figure is in purchasing power parity (PPP) Asia Pacific Foundation of Canada/Fondation Asie Pacifique du Canada Atlantic Canada - Merchandise Exports to Asia of Atlantic Canada’s of Atlantic Canada’s of Atlantic Canada’s exports to Asia are exports went to Asia exports to Asia went to 7.6% 80% five countries in 2014 56.1% metals and minerals Atlantic Canada exported $32.5 billion worth of goods worldwide in 2014. $2.45 billion went to Asia, third behind Europe ($5.1 billion) and the United States ($23.3 billion). Metals and minerals and agri-food products make up most of Atlantic Canada’s exports to Asia, totalling Exports to Asia ($CAD, Thousands) 81.4% of the region’s exports to Asia. Wood, pulp and paper products make up a further 13.6%, leaving 5% for all other product categories. China remains Atlantic Canada’s most 2014 important trading partner in Asia, receiving 40% of the region’s Asia-bound exports. Japan, 2004 $1,141,555 India, Indonesia and South Korea round out the rest of the top 5 export destinations in Asia. Among the Atlantic Provinces, Newfoundland and Labrador is the largest exporter to Asia, followed by Nova Scotia. $506,740 Atlantic Canada - Merchandise Exports to Asia, 2014 13.6% WOOD, PULP & PAPER 94.0% Chemical Woodpulp $161,714 25.3% AGRI-FOOD $23,557 PRODUCTS 2.9% Newsprint Newfoundland & Labrador 22.7% Frozen Crabs 3.1% Other Prince Edward Island 12.0% Cold-Water Shrimps & Prawns $720,985 5.0% OTHER 10.8% Lobsters, Not Frozen $423,092 6.8% Frozen Potatoes 56.1% METALS & $376,801 $315,835 5.1% Clams, Cockles MINERALS & Ark Shells 90.7% Iron Ores & 4.6% Frozen Lobsters Concentrates, Other than 3.7% Fruits & Edible Nuts Roasted Iron Pyrites Nova Scotia New Brunswick 34.3% Other 3.3% Copper Ores & Concentrates 6.0% Other Atlantic Canada - Destinations of Exports United States Atlantic Canada - Main Export Partners in Asia, 2014 90% China Japan India Indonesia S. Korea Vietnam Taiwan Hong Kong Other 80% Europe 980M 395M 225M 202M 158M 96M 90M 87M 215M 70% 40% 16.1% 9.2% 8.3% 6.4% 3.9% 3.7% 3.6% 8.8% 60% Asia ~ 30% % of Exports Latin America 20% $CAD 10% Africa and Middle East 0% 2000 2002 2004 2006 2008 2010 2012 2014 6 7 Source: Industry Canada Note: Figures are based on domestic exports, all numbers are for 2014. Some figures may not sum to total, due to rounding Asia Pacific Foundation of Canada/Fondation Asie Pacifique du Canada New Brunswick - Merchandise Exports to Asia Nova Scotia - Merchandise Exports to Asia New Brunswick - Merchandise Exports to Asia, 2014 Nova Scotia - Merchandise Exports to Asia, 2014 1.8% MECH, MACHINERY & APPLIANCES 41.5% Machines & Mechanical Appliances (with 3.7% MECH, MACHINERY individual functions) & APPLIANCES 3.5% OTHER 8.1% METALS & MINERALS 23.7% Printing Machines (net- 34.0% Air Conditioning work connectable) Machines 64.5% 33.9% Copper Waste 15.1% Boring or Sinking WOOD, PULP 33.0% Parts of Jacks & Hoists AND PAPER & Scrap Machinery 33.0% Other 19.6% Other 98.9% Chemical Woodpulp 32.7% Ferrous Waste & Scrap 1.1% Other 13.6% Aluminum Waste 3.5% OTHER 2.9% ENERGY PRODUCTS 19.8% Other 25.4% AGRI-FOOD 99.9% Peat PRODUCTS 50.7% AGRI-FOOD PRODUCTS 0.1% Other 37.8% Frozen Crabs 34.0% WOOD, PULP 19.9% Frozen Potatoes & PAPER 39.1% Lobsters, Not Frozen 1.2% METALS & 18.2% Lobsters: 16.6% Frozen Crabs MINERALS 88.1% Chemical Woodpulp Frozen & Not 10.6% Cold-Water Shrimps 4.9% Newsprint, in Rolls or 65.9% Lead - Unrefined & Prawns 10.3% Other Fish: Livers & Sheets 34.1% Other Roes Frozen Fish 7% Other 8.1% 13.8% Other 5.8% Fruits & Edible Nuts 19.8% Other New Brunswick - Main Export Partners in Asia, 2014 Nova Scotia - Main Export Partners in Asia, 2014 India China Japan Indonesia Thailand Australia Hong Kong Vietnam Other China Indonesia Japan S. Korea Hong Kong India Vietnam Australia Other 97M 86M 74M 63M 48M 13M 9M 7M 25M 277M 107M 80M 58M 46M 43M 29M 19M 61M 23% 20.4% 17.5% 14.9% 11.4% 3.1% 2.1% 1.7% 6.0% 38.5% 14.9% 11.1% 8.1% 6.4% 6.0% 4.0% 2.6% 8.5% $CAD $CAD 8 9 Source: Industry Canada Note: Figures are based on domestic exports, all numbers are for 2014. Some figures may not sum to total, due to rounding Asia Pacific Foundation of Canada/Fondation Asie Pacifique du Canada Prince Edward Island - Merchandise Exports to Asia Newfoundland and Labrador - Merchandise Exports to Asia Prince Edward Island - Merchandise Exports to Asia, 2014 Newfoundland and Labrador - Merchandise Exports to Asia, 2014 0.2% OTHER 1.0% ENERGY PRODUCTS 2.0% OTHER 1.0% MECH, MACHINERY & APPLIANCES 100% Peat WOOD, PULP AGRI-FOOD 0.5% 50.0% 61% Ejector Pumps & Other & PAPER PRODUCTS Pumps 1.0% CHEMICALS 99.9% Newsprint, in 18.9% Frozen Lobsters 39% Other & PLASTICS rolls or sheets 23.3% Frozen Potatoes 56.3% Composite 0.1% Other Diagnostic or 21.5% Fresh or 27.9% AGRI-FOOD PRODUCTS Laboratory Reagents Chilled Potatoes 43.7% Other 36.3% Other 41.0% Frozen Crabs 17.3% Frozen Flatfish 70.7% METALS & MINERALS 22.6% MECH, MACHINERY 23.4% ELECTRICAL MACHINERY 14.2% Cold-Water & APPLIANCES & EQUIPMENT Shrimps & Prawns 89.5% Iron Ores & Concentrates, Other Than Roasted 13.3% Parts of Turbo Jets 76.3% Electric Static 12.5% Clams, Cockles & Ark Shells Iron Pyrites 37.5% Turbo Propellers Converters 18.1% Lead-acid 15% Other 9.9% Copper Ores 49.2% Other Accumulators & Concentrates 5.6% Other 0.6% Other Prince Edward Island - Main Export Partners in Asia, 2014 Newfoundland and Labrador - Main Export Partners in Asia, 2014 S.